28 March 2005, 10:48  Tokyo Stocks Up in Morning Trading As High-Tech, Exporter Issues Climb; Dollar Up Vs. Yen, Euro

Tokyo stocks rose Monday morning as high-technology and exporter issues climbed. The dollar was higher against the yen and the euro.
The Nikkei Stock Average of 225 selected issues gained 51.31 points, or 0.43 percent, to 11,709.79 points. The benchmark rose 15.13 points, or 0.13 percent, Friday.
The dollar was trading at 106.89 yen at 11 a.m. local time Monday, up 0.51 yen from late Friday in Tokyo and above the 106.38 yen it bought in New York later that day.
On the stock market, high-technology industry leaders NEC Corp., Fujitsu Inc., and Sanyo Electric Co. gained as did Japan's biggest automaker, Toyota Motor Corp.
Major steelmakers were weaker, with Nippon Steel Corp. and Sumitomo Metal Industries Inc. losing ground.
Traders forecast prices would stay within a narrow range due to a lack of cues from U.S. and European stock markets, which were closed Friday for the Good Friday holiday.
The broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first section, gained 0.36 point, or 0.03 percent, to 1,194.13 points. The TOPIX advanced 5.33 points, or 0.45 percent, on Friday.
In other Tokyo currency trade, the euro fell to $1.2891 late Monday morning from $1.2957 late on Friday after hedge funds sold the European currency. Against the yen, the euro declined to 137.89 yen from 137.92 yen.
The yield on Japan's benchmark 10-year government bond rose to 1.3700 percent from 1.3650 percent at Friday's close. Its price fell 0.04 point to 101.14 points.

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